7:54 AM,
Sep. 11, 2013

Cars cross the start line at the Iowa Speedway during the Indy Car series auto race in Newton, Iowa, Sunday June 23, 2013.

Written by

Bryce Miller
Des Moines Register

Iowa Speedway officials hustled to calm any potential fears about the racetrack's financial health or future after confirming the departure of its chief executive officer and a pending refinancing deal.

Employees were told Tuesday morning about the departure of Doug Fritz, the man hand-picked as CEO in September 2011. Speedway officials confirmed to The Des Moines Register on Tuesday morning that Fritz had left the company and that a refinancing deal was in the works.

Conrad Clement, speedway chairman and principal owner, acknowledged the existence of some financial issues in a brief ...